Bowmore and Glenmorangie both raise a dram to increased profits and sales
Morrison Bowmore Distillers, a subsidiary of Beam Suntory, and Glenmorangie Company, part of LVMH, both saw sales and profits grow last year, only further confirming the "hot" streak that whisky is currently having
Morrison Bowmore Distillers, a subsidiary of Beam Suntory, and Glenmorangie Company, part of LVMH, both saw sales and profits grow last year, only further confirming the "hot" streak that whisky is currently having.
Both companies released the end of year results this week.
Sales for Glenmorangie Company grew by 6% in 2013 topping out at just over £70 million and profits increased a staggering 17% to £15.3 million. Operating profits rose 14% from 14.2 million in 2012 to £16.4 million for 2013. The Glenomorangie Company produces Glenmorangie and Ardbeg single malt whiskies.
Volume during the same period rose only 4%,indicting that a portion of the growth Glenmorangie is having is value growth.
Glenmorangie attributes some of its success in 2013 to innovation. The Glenmorangie Ealanta was released last year helping to boost sales. Additionally the success of the limited edition Ardbog from the Ardbeg brand sold out in key markets in just 14 hours.
|
Bowmore 50 |
Bowmore had an equally impressive year. Morrison Bowmore Distillers saw profits rise 7% to £9.1 million for 2013. Sales rose 12% to £55.6 million for same period. Morrsion Bowmore producers brands Bowmore, Auchentoshan, Glen Garioch and McClellands single malt whiskies.
Bowmore saw 2013 profits rise an astounding 39% over 2012.
Morrison Bowmore Distillers was acquired by Suntory back in 1994. This year Suntory was able to further expand its single malt whisky brand portfolio through a £9.6 billion acquisition of Jim Beam Inc. Included in the deal were Scotch whisky brands Laphroaig, Ardmore and Teacher's.
The sales of scotch whisky in recent years has seen a big boost. Scotch whisky exports have almost doubled to £4.3 billion in the past decade, according to figures released by HMRC at the beginning of 2014. Primarily this has been driven by the expansion in export market. The UK saw exports increase in value 87% of scotch whimsy from 2002 to 2012.
The industry does not show any signs of slowing down.
Keywords:
Search
56-58 Church Walk, Burgess Hill, West Sussex, RH15 9AN
Registered in England No. 6646125. VAT No. 938 4452 95
